Giorgia Meloni has accepted a mandate to form Italy's next government, a presidential official said on Friday, paving the way for her to become the country's first woman prime minister.
The new government will be formally sworn in on Saturday morning and will face confidence votes in both houses of parliament next week.
Ms Meloni, head of the nationalist Brothers of Italy, led an alliance of conservative parties to victory during the September 25 election. Her party will form the country's most right-wing government since the Second World War.
“Giorgia Meloni has accepted the mandate and has presented her list of ministers,” presidential official Ugo Zampetti told reporters after Ms Meloni consulted with President Sergio Mattarella, who, as head of state, formally asked her to form a government.
The Brothers of Italy, which holds Eurosceptic and anti-immigration views, won 26 per cent of the vote in the September polls, compared to 8 and 9 per cent, respectively, for allies Forza Italia and the far-right League.
Ms Meloni's appointment is a historic change for the eurozone's third-largest economy and for Brothers of Italy, which has never been in government.
The consultations to cobble together a government have been overshadowed by disagreements over Ms Meloni's ardent support for Ukraine since the Russian invasion, with her two would-be coalition partners both considered to be close to Moscow.
A recording was leaked during the week in which Italy's former prime minister Silvio Berlusconi — who heads Forza Italia — talks about his warm ties with Moscow and appeared to blame the war in Ukraine on Ukrainian President Volodymyr Zelenskyy.
Her other coalition partner, Matteo Salvini leader of the League party, is a long-time fan of Russian President Vladimir Putin and has criticised western sanctions on Moscow.
Despite her Eurosceptic stance, Ms Meloni has been firm about her support for Ukraine, in line with the rest of the European Union and the US.
“I intend to lead a government with a clear and unequivocal foreign policy line,” she has said. “Italy is fully, and with its head held high, part of Europe and the Atlantic alliance.
“Anyone who does not agree with this cornerstone will not be able to be part of the government, even at the cost of not forming a government.”
Giorgia Meloni to become Italy's first female prime minister — in pictures
Mr Berlusconi, 86, has said that his personal and political positions “do not deviate from that of the Italian government [and] the European Union” on Ukraine.
But the tension adds to concerns that Ms Meloni's coalition, held together by the need for a parliamentary majority, will struggle to maintain unity.
Allies of Mr Berlusconi insist his comments in the recording, from a meeting with politicians earlier this week, were taken out of context.
The billionaire media mogul described a rekindling of relations with long-time friend Mr Putin, whom he said had sent him 20 bottles of vodka and a “very sweet letter” for his birthday.
Ms Meloni's coalition wants to renegotiate Italy's part of the EU's post-Covid recovery fund, arguing the almost €200 billion ($193 billion) it expects to receive should take into account the current energy crisis, exacerbated by Moscow's invasion of Ukraine.
But the funds are tied to a series of reforms only recently begun by departing Prime Minister Mario Draghi, and analysts say she has limited room to manoeuvre.
Campaigning on a platform of “God, country and family”, Ms Meloni sparked fears of a regression on rights in the Catholic-majority country.
She has distanced herself from her party's neo-fascist past — and her own, after praising dictator Benito Mussolini as a teenager — and presented herself as a straight-talking but unthreatening leader.
Inflation in Italy rose to 8.9 per cent in September over the previous year, threatening to put the country into a recession next year.
The margin for manoeuvre is limited given that its colossal debt represents 150 per cent of gross domestic product, the highest in the eurozone after Greece.
Mr Draghi used his last day on the European stage on Friday to warn both his fellow leaders and Ms Meloni that a united Europe should remain their “guiding star”.
He said everyone looked at “the EU as a source of security, stability and peace” and added: “We have to keep this in mind as a guiding star for the future, especially in troubled times like these.”
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Feeding the thousands for iftar
Six industrial scale vats of 500litres each are used to cook the kanji or broth
Each vat contains kanji or porridge to feed 1,000 people
The rice porridge is poured into a 500ml plastic box
350 plastic tubs are placed in one container trolley
Each aluminium container trolley weighing 300kg is unloaded by a small crane fitted on a truck
Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.
Tips from the expert
Dobromir Radichkov, chief data officer at dubizzle and Bayut, offers a few tips for UAE residents looking to earn some cash from pre-loved items.
- Sellers should focus on providing high-quality used goods at attractive prices to buyers.
- It’s important to use clear and appealing photos, with catchy titles and detailed descriptions to capture the attention of prospective buyers.
- Try to advertise a realistic price to attract buyers looking for good deals, especially in the current environment where consumers are significantly more price-sensitive.
- Be creative and look around your home for valuable items that you no longer need but might be useful to others.
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Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
The specs: 2017 GMC Sierra 1500 Denali
Price, base / as tested Dh207,846 / Dh220,000
Engine 6.2L V8
Transmission Eight-speed automatic
Power 420hp @ 5,600rpm
Torque 624Nm @ 4,100rpm
Fuel economy, combined 13.5L / 100km
How Filipinos in the UAE invest
A recent survey of 10,000 Filipino expatriates in the UAE found that 82 per cent have plans to invest, primarily in property. This is significantly higher than the 2014 poll showing only two out of 10 Filipinos planned to invest.
Fifty-five percent said they plan to invest in property, according to the poll conducted by the New Perspective Media Group, organiser of the Philippine Property and Investment Exhibition. Acquiring a franchised business or starting up a small business was preferred by 25 per cent and 15 per cent said they will invest in mutual funds. The rest said they are keen to invest in insurance (3 per cent) and gold (2 per cent).
Of the 5,500 respondents who preferred property as their primary investment, 54 per cent said they plan to make the purchase within the next year. Manila was the top location, preferred by 53 per cent.
